It does work but it depends on how lucky you are though.
That is the usual gambler and how they usually think about this strategy but I think Martingale is a really good strategy as long as you are using it in the good game. I am a gambler and I usually play dice games, in that statement, if you are using martingale you should be able to have a good amount of money to gamble. If you don't have enough, better stop quickly. I also bet on sports gambling and I usually use Martingale there not only when I lose but also when I win, for me, it is really great.
I am glad you added the clause, have enough money if you must use the martingale strategy. This is what most gamblers won’t do, they only mention that the strategy works very well but they won’t state that it is important to have plenty of money.
I think it’s not for player like me who play for fun because I don’t play with much money, I see gambling as fun and I play with very little amount I can easily afford to lose and I believe there are other days to play again, playing with huge money one day and pausing for the next days or months ahead is not so nice, so I would rather play little by little daily for months.